Ironblocks' Venn Network is launching a new Web3 security layer aimed at addressing the hacking issues prevalent in decentralized finance (DeFi). CEO Or Dadosh describes it as a new economy for crypto security. The network will pre-screen transactions, similar to a firewall in traditional web contexts, allowing suspicious activities to be flagged and frozen before they reach the blockchain. Venn connects security operators with DeFi applications, enabling these applications to reward auditors and cybersecurity firms for vetting transactions before execution. The public testnet will involve participation from various DeFi projects and security firms, establishing a distributed network of node operators to enhance security in the crypto space.

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